According to the NWMLS, Brokers added the largest monthly number of new listings during July since May 2019, but pent-up demand from buyers meant inventory remained low. An unprecedented eight counties in the NWMLS report had less than one month’s supply of homes and condos for sale at the end of July. These included Clark, Cowlitz, Island, Kitsap, Mason, Pierce, Snohomish, and Thurston.
Consistent with this trend, in a 4-week period, I had 4 sales close in 4 different counties. Including a 200+ acre timber land sale in Mason County, a new Richmond American home sale in Pierce county, a resale home in King County and vacant lot sale in Kittitas County. Additionally, I saw 6 more of my listings go under contract in King County.
According to NWMLS statistics, median prices area-wide rose 12.8% from a year ago with 14 of the 23 counties reporting double-digit price increases. Price escalation is anticipated, but at a lower percentage over the next year.
If you are considering engaging in this active real estate market, with a purchase or sale of a house or land, please contact me for a free consultation so I can assist you in this dynamic market. https://jeffmccann.net/contact/